Riyadh – Mubasher: Nayifat Finance Company recorded a 37.07% year-on-year (YoY) leap in net profit to SAR 23.54 million during the first quarter (Q1) of 2025, versus SAR 17.17 million.
The higher profits were due to an increase in commission income resulting from enhanced financing portfolio and expanded sales, according to the financial statements.
Nayifat Finance generated revenues valued at SAR 87.17 million in Q1-25, an annual rise of 1.67% from SAR 85.74 million.
Earnings per share (EPS) grew to SAR 0.20 as of 31 March 2025 from SAR 0.14 a year earlier.
Quarter-on-quarter (QoQ), the Q1-25 net profits retreated by 36.05% from SAR 36.82 million in Q4-24, while the revenues declined by 6.75% from SAR 93.49 million.
The reason for the decrease in revenues compared to Q4-24 is mainly due to one-off income recognized resulting from the sale of property, that led to surge of revenues in the previous quarter
